S. 1222 · Where this bill is now
In committee
Introduced in the Senate, Apr 1, 2025
What this bill does
In plain words · AI-written from the official summaryExpands investment options in retirement plans
Ever wondered what investments you can actually pick from in your 401(k)? This bill stops the Department of Labor from limiting what types of investments employers can offer in certain retirement plans—especially in plans where you get to choose your own investments through something called a self-directed brokerage window. Basically, it gives employers and plan administrators more freedom to expand the range of investment choices available to you.
How it affects you
If you have a 401(k) or similar employer retirement plan that lets you direct your own investments, you might see more investment options become available to you. The change applies specifically to people in plans with self-directed brokerage windows, where workers can pick additional investments beyond the standard menu. For most people with basic retirement plans, this may not change much about what they can invest in.
Read the official summary (Introduced in Senate, Apr 1, 2025)
Financial Freedom Act of 2025
This bill prohibits the Department of Labor from limiting the type or range of investments that fiduciaries may offer participants and beneficiaries in certain employer-sponsored retirement plans. The bill applies to certain defined contribution plans that permit participants or beneficiaries to exercise control over the assets in the account, such as a 401(k) plan that allows participants or beneficiaries to select additional investment options through a self-directed brokerage window.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1222
A BILL
Financial Freedom Act of 2025
Sponsor: Sen. Tommy Tuberville (R-AL) · Introduced Apr 1, 2025 · Labor and Employment · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Apr 1, 2025: “Read twice and referred to the Committee on Health, Education, Labor, and Pensions.”